Bitcoins/Litecoins/Virtual Currencies

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Flobee

Flobee

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ShakyJake said:
Bottom line: do not use Coinbase. They are a shit operation and will use any excuse in the book not to help you.
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That is rough, but not unusual, I would just add this is all the more reason to not hold your assets on ANY exchange. Coinbase really sucks though
 
ShakyJake

ShakyJake

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Flobee said:
That is rough, but not unusual, I would just add this is all the more reason to not hold your assets on ANY exchange. Coinbase really sucks though
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I am currently holding BTC in an IRA account. However, this account is secured via 2 factor authentication app. My understanding is that these are nigh impossible to get around. Probably asking for trouble, I know.
 
Flobee

Flobee

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ShakyJake said:
I am currently holding BTC in an IRA account. However, this account is secured via 2 factor authentication app. My understanding is that these are nigh impossible to get around. Probably asking for trouble, I know.
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I don't know much about those IRA vehicles. I know some allow you to self-custody and thats probably ideal, but I suspect most don't. If you're just holding the ETF or something you're just holding USD exposure to Bitcoin price movements, which is probably fine for an IRA. Its not the same as holding Bitcoin though.

Bottom line is the majority of ways for holding Bitcoin that aren't self custody are fairly insecure. There are gradations though... like if an exchange allows for whitelisting that can be helpful, requires x amount of time to pass before added addresses or banks can actually be used. Gives you time to sort out access issues in a breach. Better than that is custodians that support multi-signature wallets so you hold one or two keys, they hold one and 2 are needed to make transactions. Stuff like that.

Not everyone is going to self-custody as much as I try to encourage it... but if you're holding life-changing amounts of money you really need to consider it if possible
 
Tmac

Tmac

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ShakyJake said:
That's a damn good question.

Basically, one day, my phone started getting lit up with SMS messages from Coinbase about activity on my account, and when I logged in everything had been liquidated and transferred out. I even had money wired from my bank account to Coinbase.

I had 2-factor auth set up, but somehow someone somewhere was able to bypass it all. Contacting Coinbase support they claimed my email account had been hacked. However, I proved beyond a shadow of a doubt that no one had accessed my email account other than myself. They still insisted that it had been hacked.

My conclusion is that they had a nefarious employee that was able to work around their system. That's the only explanation I can think of. My phone, email, etc. were never accessed by anyone but myself.

Bottom line: do not use Coinbase. They are a shit operation and will use any excuse in the book not to help you.
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Why didn’t you sue them?
 
Indyocracy

Indyocracy

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I used coinbase, but I immediately offload my coins(whatever they call patrial btc) to a Trezor once the wait period is over.
 
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Flobee

Flobee

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TJT said:
Looks like the prices are crashing now again?
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Yea, so this was the first time ATH was broken before halving. It would have been pretty nuts if we kept these levels. Expect it to cool off for a while, maybe in the 50's I dunno. Volume on ETFs is still crazy so things are pretty unpredictable.

EDIT:
 
Araysar

Loser Araysar

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People hit the ATH and slowly started regaining their senses.
 
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Tuco

Tuco

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ShakyJake said:
That's a damn good question.

Basically, one day, my phone started getting lit up with SMS messages from Coinbase about activity on my account, and when I logged in everything had been liquidated and transferred out. I even had money wired from my bank account to Coinbase.

I had 2-factor auth set up, but somehow someone somewhere was able to bypass it all. Contacting Coinbase support they claimed my email account had been hacked. However, I proved beyond a shadow of a doubt that no one had accessed my email account other than myself. They still insisted that it had been hacked.

My conclusion is that they had a nefarious employee that was able to work around their system. That's the only explanation I can think of. My phone, email, etc. were never accessed by anyone but myself.

Bottom line: do not use Coinbase. They are a shit operation and will use any excuse in the book not to help you.
Click to expand...
Wow, that sucks.
 
Foler

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Saint Cathy says COIN is definitely a buy.
 
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Araysar

Loser Araysar

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More detail on the trade of the century

1709745193867.png
 
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Tuco

Tuco

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Araysar said:
More detail on the trade of the century

View attachment 518361
Click to expand...
imagine if the pizza boy cashed out his 10,000 BTC.

cointelegraph.com

The pepperoni on the first pizza bought with Bitcoin is worth $6.5M today

May 22, known as Bitcoin Pizza Day to crypto enthusiasts, celebrates the buying of two pizzas for 10,000 BTC, and the estimated equivalent price of those ingredients in Bitcoin’s price today is staggering.
cointelegraph.com cointelegraph.com

Pizza for bitcoins?

Pizza for bitcoins?
bitcointalk.org
 
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Araysar

Loser Araysar

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Tuco said:
imagine if the pizza boy cashed out his 10,000 BTC.

cointelegraph.com

The pepperoni on the first pizza bought with Bitcoin is worth $6.5M today

May 22, known as Bitcoin Pizza Day to crypto enthusiasts, celebrates the buying of two pizzas for 10,000 BTC, and the estimated equivalent price of those ingredients in Bitcoin’s price today is staggering.
cointelegraph.com cointelegraph.com

Pizza for bitcoins?

Pizza for bitcoins?
bitcointalk.org
Click to expand...

Tuco you know damn well if someone offered you 10K BTC or 2 Pizzas 14 years ago you would take the Pizzas.
 
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